Vietnamese telecom giants boost globalization

Vietnamese telecommunication companies Viettel and FPT Group are strengthening their globalization strategies.

Workers produce telecom devices at Viettel Plant (Photo: SGGP)

Foreign investment yielded US $1 billion in revenue last year, said Nguyen Manh Hung, Viettel director general. This is an increase of 30 percent since 2012. The company generated US $270 million in profit from foreign markets since 2011.

The company aims to become part of the top 20 largest telecom companies in the world by 2020, said Hung.

FPT Group is focusing on building relationships companies in Japan, US, Singapore, Myanmar. It will boost software development services in already established markets and provide new versions of software applications.

The company owns offices in 16 different countries since opening 25 years ago. Foreign investment revenue reached US $130 million in 2013, accounting for 10 percent of the company’s total revenue.  This is an increase of 30 percent since 2012.

FPT Group’s target is US$350-400 million from foreign investment in 2016.  The company aims to become the leading information technology service in ASEAN.

Our spending is targeted for US$50 million for Mergers and Acquisitions this year to boost the globalization process, said Director General Bui Ngoc Quang.

By Tran Luu – Translated by Hai Mien

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